Standard Chartered projects SKY to reach $0.325 by end of 2028, outperforming Bitcoin

Standard Chartered's global head of digital assets research, Geoff Kendrick, stated in a report that the price of SKY could reach $0.325 by the end of 2028, representing a fivefold increase from the bank's baseline price of $0.065. The bank expects SKY to track closely with ETH and outperform Bitcoin by the end of 2028. Sky, a decentralized finance platform rebranded in 2024, has seen its USDS supply grow 96.9% year-over-year to $10.04 billion as of June. Standard Chartered noted that increased USDS supply could drive protocol revenue and value distribution to token holders through staking rewards and buyback mechanisms. The bank anticipates that value distributed to holders will at least double over the next 12 months, though it identified lower-than-expected growth in yield-bearing stablecoins as a primary risk to the outlook.